Your 2023 Tax Preparation Checklist

By Brett Gottlieb

It’s officially tax season! The more prepared you are, the better. Here, we’ve created a checklist to help you organize your tax information and make filing this year a breeze. Get 2023 started off right with an organized financial plan and a comprehensive tax to-do list.

Organize Your Personal & Income Information

You’ll start receiving various tax documents virtually or in the mail soon, so instead of letting them sit in a pile on your counter, create an organized system for the following.

Income Information

❏ Form W-2: These are issued by employers and show your wages and tax withholdings.

They are supposed to be mailed by January 31.

❏ Form 1099-MISC: These report income you have received as an independent contractor or freelancer. You should receive one from each person or company that pays you.

❏ Form 1099-INT: This form will show any interest you have earned.

❏ Form 1099-R: This form reports income received from annuities, IRAs, or pensions.

❏ Form 1099-DIV: Any dividend income you earn is reported on this form.

❏ Form 1099-B or 1099-S: You will receive these if you have any income from the sale of property or stock.

❏ Form 1098: You will get this from your mortgage company reporting the interest that you paid.

❏ Form 1098-T: This reports payments of qualified tuition and expenses.

❏ Form 1095-A or 1095-C: These forms report your healthcare coverage for the year and your premium tax credit, if applicable.

❏ Schedule K-1 (Form 1065, Form 1120S, or Form 1041): This reports income for a partner, a shareholder, or an income beneficiary of an estate or trust. The Schedule K-1 normal deadline can be as late as April 15th.

Income-Reduction Documents

❏ Form 1098-E for student loan interest paid, or loan statements for student loans received

❏ Form 1098-T for tuition paid or receipts from the institution you or your dependents attend

❏ Receipts for any qualifying energy-efficient home improvements

❏ Records of IRA contributions made during the year

❏ SEP, SIMPLE, and other self-employed pension plan information

❏ Records of medical savings account (MSA) contributions

❏ Moving expense records

❏ Self-employed health insurance payment records

❏ Alimony you paid if your divorce was finalized before December 31, 2018

Personal Information

If you want your tax-filing experience to be painless, you’ll also want to make sure that you have all of your and your dependents’ personal information available, such as:

❏ Social Security numbers and birth dates

❏ Copies of last year’s tax return (helpful, but not required)

❏ Bank account number and routing number, if you wish to have your refund deposited directly into your account

Gather Documents for Itemization

If you’re planning to itemize your deductions this year, you’ll need records to include your totals and provide proof.

Deductions and Credits

❏ Childcare costs: provider’s name, address, tax ID, and the amount paid

❏ Education costs: Form 1098-T, education expenses

❏ Adoption costs: SSN of the child; records of legal, medical, and transportation costs

❏ Form 1098: Mortgage interest, private mortgage insurance (PMI), and points you paid

❏ Investment interest expenses

❏ Charitable donations: cash amounts and official charity receipts

❏ Medical and dental expenses paid

❏ Casualty and theft losses: the amount of damage, insurance reimbursements

❏ Records/amounts of other miscellaneous tax deductions: union dues; unreimbursed employee expenses (uniforms, supplies, seminars, continuing education, publications, travel, etc.)

❏ Records of home business expenses

Taxes Paid

❏ State and local income tax

❏ Real estate tax

❏ Personal property tax

Check Possible Tax Credits

Before filing your taxes, make sure to check the status of your current tax credits. These can include the Child Tax Credit, the Earned Income Tax Credit, the Child and Dependent Care Credit, the Inflation Reduction Act of 2022, and many more. Every tax filer’s situation will be different, so check on the tax credits that are most relevant to you.

Stay on Top of Tax Changes

Those lists cover the details of what you’ll need in front of you to thoroughly fill out your tax return. But there are also a few things to think about that could impact how you file, such as any changes that have occurred this year. Did you add another child to your family? Did one of your children start college? Did you start taking withdrawals from a retirement account? All these changes need to be reflected on your tax return but won’t show up on prior returns.

A knowledgeable financial professional can help you understand any tax law changes and how they affect you. It’s important to remember to consult with a qualified tax professional for guidance.

Look Ahead to the Future

It may still be early in the year, but it’s important to get your tax return filed properly and accurately. Even better, look at the bigger picture of taxes in general and make sure you are optimizing all the tools available to you to limit your tax liability.

At Comprehensive Advisor, we focus on helping successful professionals properly plan for their financial futures. We offer financial plans as unique as you are, and with our simple process, you can get started planning your financial future in five key areas.

If you’d like to learn more, email us at or call (760) 813-2125. We look forward to hearing from you.

About Our Advisors

Brett Gottlieb is the founder of Comprehensive Advisor and a financial advisor with nearly two decades of industry experience. He graduated from California State University-Chico with two bachelor’s degrees, in business administration and economics, and is Life Insurance licensed in several states. He is passionate about guiding his clients on retirement income planning, helping each client pursue their specific retirement goals, and defending the assets his clients have worked so hard to achieve. Brett is a California native and currently resides in San Elijo Hills with his beautiful wife and three children.

Our team of qualified professionals have experience in the financial service industry, and our advisors hail from some of the largest independent broker/dealers and banking institutions in the country. They have dedicated their professional careers to creating personalized financial

solutions for individuals and families who seek successful retirement planning and currently offer investment advisory services through AE Wealth Management, LLC. Our advisors take a common-sense approach to the planning process and work with clients to create a retirement road map to help ensure their assets are protected and they receive the income needed to enjoy their future. Based in Carlsbad, California, they work with clients throughout San Diego County and beyond. Learn more by connecting with Brett on LinkedIn or email them at

Investment advisory services made available through AE Wealth Management, LLC (AEWM). AEWM and Comprehensive Advisor are not affiliated companies. Insurance products are offered through the insurance business Comprehensive Advisor, LLC. Comprehensive Advisor, LLC is also an Investment Advisory practice that offers products and services through AE Wealth Management, LLC (AEWM), a Registered Investment Advisor. AEWM does not offer insurance products. The insurance products offered by Comprehensive Advisor, LLC are not subject to investment Advisor requirements. C.A. Financial & Insurance Services, CA Ins. Lic. #6000262. This material is intended to provide general information and is believed to be reliable, but accuracy and completeness cannot be guaranteed. Neither the firm nor its representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions.

Investing involves risk, including the potential loss of principal. Any references to protection benefits, safety, security, lifetime income, etc. generally refer to fixed insurance products, never securities or investment products. Our firm is not affiliated with the U.S. government or any governmental agency. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. 1687684 – 2/23.


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